Crisis, Rinse, Repeat: Key economic data from the periods following the 1929 stock-market crash and the 2007-2008 financial crisis suggest that the current recovery has been unnecessarily anemic. If policymakers […]
Macroeconomics: How Large Is the Shadow Cast by Recessions? https://www.icloud.com/keynote/0-rKMXUoFYubeD2FVgezAd8kg J. Bradford DeLong and Lawrence H. Summers (1988): On the Existence and Interpretation of the “Unit Root” in U.S. GNP […]
J. Bradford Delong: Notes on Gerald Friedman: Since 2010 fiscal policy austerity has been a disaster for both Europe and the United States. But how much better could things be? […]
Here in the United States, there were always three arrows to “hysteresis”—to the argument that the failure to adopt policies that properly fought the downturn of 2008-2009 in an aggressive […]
Has the Longer Depression accelerated the trend of “losing” prime-age males, crowding what would have been a generation of the trend into a decade, as I suggested at the FRBB […]
Note to Self from Boston Harborside: Alan Krueger and Gabriel Chodorow-Reich both assure me that, to them, it does not look like the decline in prime-age male employment was materially […]
Two comments: First, on non-participation of prime-age males: We lost 22% of 55-64 male labor force participation 1958-1995… Since 1995 we have gained 4% in 55-64 male labor force participation… […]
Must-Read: Antonio Fatás and Lawrence H. Summers: The Permanent Effects of Fiscal Consolidations: “The global financial crisis has permanently lowered the path of GDP in all advanced economies… ..At the […]
Must-Read: Antonio Fatás and Lawrence H. Summers: The Permanent Effects of Fiscal Consolidations: “The global financial crisis has permanently lowered the path of GDP in all advanced economies… …At the […]
Must-Read: Danny Yagan: Enduring Employment Losses from the Great Recession?: Longitudinal Worker-Level Evidence: “The severity of the Great Recession varied across U.S. local areas… …Comparing two million workers within firms […]